Hertz Global Holdings Inc

After Hertz filed for Chapter 11 bankruptcy, the stock got booted onto the OTC market. But Hertz is back, and it's coming for a major stock exchange.

More than a year after the bankruptcy filing, Hertz stock is beginning to rebound. What caused the stock to rise? What can investors expect?

JPMorgan’s latest 2Q14 results beat estimates. Meanwhile, net income was down to $6 billion from $6.5 billion in 2Q13. The earnings per share (or EPS) was $1.46, compared to $1.60 in 2Q13.

In this series Activist investor Dan Loeb’s fund, Third Point Partners LP, disclosed some of the positions traded during 3Q14 in its 3Q investor letter. In this series, we’ll go through the details of these positions and Third Point’s rationale for adding or exiting its stakes. In its 3Q letter, the fund said it “continued […]

Applied Materials Inc. provides manufacturing equipment, services, and software to the global semiconductor, flat panel display, solar photovoltaic (or PV), and related industries.

Dinakar Singh’s TPG-Axon initiated a new position in Equinix Inc. (EQIX), a global interconnection and data center company, that accounts for 6.09% of the fund’s portfolio.

Highfields Capital exited a position in Exxon Mobil that accounted for 1.67% of the fund’s 1Q14 (or the first quarter of 2014) portfolio.

Highfields Capital initiated a new position in Eli Lilly and Company that accounts for 2.13% of the fund’s 2Q14 (or second quarter of 2014) portfolio.

Icahn Associates’ 4Q14 positions were disclosed through a 13F filing in February. The size of the US long portfolio was down to $31.89 billion.

Alibaba is a Chinese e-commerce firm that operates in the online and mobile marketplace and connects retailers and wholesalers with prospective customers.

P&G reported first quarter fiscal year 2015 core earnings per share of $1.07, an increase of 2% compared to the previous year. Net sales were unchanged compared to a year ago, at $20.8 billion.

Icahn believes that Hertz has good potential value, provided it enacts certain changes. The company is already going in for a split.

On November 14, Carl Icahn’s Icahn Capital Management filed its form 13F. In the third quarter, it included two new stocks.

TPG-Axon opened a new position in Hertz Global Holdings Inc. (HTZ) that accounts for 5.65% of the fund’s 4Q portfolio.

TPG-Axon Capital Management LP (or TAC) is a privately owned $4 billion hedge fund firm founded by Dinakar Singh in February 2005.

Carl Icahn’s fears could come true in October. According to Goldman Sachs, the market might exhibit higher volatility next month.

Carl Icahn reported yesterday that his fund has cut its stake in Hertz Global Holdings (HTZ).

The EIA anticipates Brent spot prices will average $72 per barrel in 2018 and $71 per barrel in 2019.

The US trucking industry is keeping a close eye on President Trump’s trade agreement with Mexico since there’s so much at stake.

Investor flows into high-yield bond funds were negative last week. According to Lipper, net outflows from high-yield bond funds totaled $562 million in the week ended May 25, 2016.

Albertsons Companies, an American grocery company, issued junk bonds worth $1.3 billion on May 25, 2016. The bonds will mature on June 15, 2024.

Icahn Associates boosted its position in Hertz Global Holdings (HTZ) in the quarter ending in December. The fund disclosed 51,922,405 shares.

Highfields Capital lowered its holdings in Hertz Global Holdings (HTZ) as per its recent 13F filing.

Highfields Capital Management is an investment management firm that manages private investment funds and caters to pension funds, philanthropic and charitable foundations, and endowments.

In 4Q14, JAT Capital sold its stake in Hertz Global Holdings (HTZ). The $196-million position had represented 3.2% of the fund’s third-quarter portfolio.

Avis Budget Group’s share price increased by almost 16% in 4Q14.

In 4Q14, Eminence Capital increased its stake in Hertz Global Holdings (HTZ). The company accounted for 1.62% of the fund’s fourth-quarter portfolio.

Viking Global started a new position in Avis Budget Group (CAR). The fund bought 5,020,701 Avis Budget Group shares. The shares were worth $333 million.

Hertz Global Holdings owes in excess of $700,000 in unpaid taxes as well as interest and penalties.

Tiger Global Management decreased its investments by over $15 million in Visa. The fund’s current position in Visa accounts for 0.53% of its total portfolio.

Avis Budget Group will use its free cash flow to improve shareholder value through a mix of share repurchases and capital investments via acquisitions.

Avis Budget Group saw 4% revenue growth in Latin America, Asia-Pacific region thanks to strong cost controls and efficiency gains.

In 3Q14, Zipcar generated more revenue than any quarter in its history, primarily on an increase in usage revenue and pricing, as well as membership.

Avis Budget Group is diversifying its disposal channels to reduce fleet costs. It’s also expanding in direct-to-dealer and direct-to-consumer car sales.

Avis Budget Group (CAR) is a leading global provider of vehicle rental services. It also offers a car-sharing network service through its brand, Zipcar.

Autohome said it provided dealer subscription services to 14,614 dealer subscribers in 3Q14, representing a year-over-year increase of 64.5%.

JANA Partners increased its stake in Hertz Global Holdings (HTZ) during the third quarter. The position accounted for 2.95% of the fund’s 3Q14 portfolio.

Highfields Capital exited a position in Tesla Motors that accounted for 1.21% of the fund’s 1Q14 (or the first quarter of 2014) portfolio.

TPG-Axon exited a position in Twenty-First Century Fox-A (FOXA) that accounted for 5.23% of the fund’s 3Q portfolio.

Third Point started a new 2.83% position in gas pipeline operator Williams Companies, Inc.

As of September 30, 2013, Iridian’s assets under management totaled $10.1 billion in U.S. mid-cap and small-cap equity strategies.